Nova Tunes Online Music Store Offers 'Radiohead' Business Model
November 16, 2007 at 11:06 AM (PT)
New Internet music company NOVATUNES will be launching an online music store devoted to up-and-coming and unattached heritage artists on NOV. 21st, using a business model not far removed from RADIOHEAD's recent digital sales experiment.
NOVATUNES offers a "Hear, Like, Buy" approach: Users can hear each album in full and if they like it, they can buy and download it directly. Music fans can also join ‘artist networks’ where musicians and their audience meet. They can discuss music, write reviews and recommend other NOVATUNES artists they like.
The company's highest profile supporter is CSN&Y icon GRAHAM NASH, who has joined the company's Board of Advisors. "The music industry is in dire straits and solutions are coming from companies like NOVATUNES," NASH stated. "The people at NOVATUNES understand the Internet and take advantage of it by creating a space for musicians to connect to their fans and to release new music instantly to them, wherever in the world they are. It’s a fabulous business model and that’s why I wanted to join in and help them and push them as far as they can go, because this is the future."
The music on NOVATUNES is sold in a Download Pack format, which contains high-quality DRM-free music tracks, printable artwork, a bio, lyrics, credits, liner notes and an iPOD-ready video. The cost of a DP will be determined by the artist, and will likely vary between $5-9 dollars, with the average selling for around $7. NOVATUNES pays 70% of music revenue to the artist at the moment of purchase.
Over 60 artists, catering specifically to adult music fans, have been selected by the company's A&R staff and have committed to the store. "We're very excited about the artists we work with," said Sr. Dir./A&R JOHN WOOLER. "Opportunities are rampant for established artists such as JACKSON BROWNE, LEON RUSSELL, GRAHAM NASH, JULIA FORDHAM and developing artists like JOE PURDY, MEIKO, BOW THAYER and DEVON ALLMAN’S HONEYTRIBE."
For more info and to sign up for a launch alert, click here.